Nepal to hold 2-day summit to woo more investment

Investors from around 40 countries, including India and China, will gather here for a two-day investment summit this week, Nepal's Finance Minister Yuvraj Khatiwada said on Wednesday.

The Nepal Investment Summit is being organised in Kathmandu on March 29 to 30 with a view to attract more investment in the landlocked country.

Over 500 people, including Nepal's development partners, representatives from Kathmandu-based diplomatic agencies, high-level government officials, Non-Resident Nepalese and domestic and international investors, are expected to attend the summit to be inaugurated by Prime Minister K P Sharma Oli, he said.

"The government has made all preparations for the event which is expected to attract investors from 40 countries across the world," Khatiwada said.

During the summit, 77 projects in the hydropower, agriculture, industry, tourism, transportation, urban infrastructure, education and health sectors would be presented by the companies of public and private sectors.

Nepalese investors, foreign investors and potential investors will share their experience and knowledge during the summit, according to a statement issued by the Nepal's Finance Ministry.

"The summit will be instrumental in attaining Nepal government's objective of 'prosperous Nepal and happy Nepali'," Khatiwada told reporters.

A steering committee headed by minister Khatiwada has also been formed with a view to making the summit a success, the statement said.

Altogether 12 agreements and Memorandum of Understandings (MoUs) are expected to be signed during the summit, it said.

Companies from India and China, including Dabur India and Unilever, Power China and China Railway have confirmed their participation, the statement said.